Distinguish between the following :
Joint Hindu Family Business and Joint Stock Company.
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What is Joint Hindu Family business?
A Joint Hindu Family is a form of business organization which runs from one generation to another according to the Hindu Law.
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Joint Hindu Family Firm and Joint Stock Company.
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Karta is the sole manager of‘Joint Hindu Family Business’.
1. The Karta is the eldest or senior most person in the family business. 2. Karta has unlimited liability. 3. He has the entire decision making power and he is not binding...
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i. The owner is the sole manager and decisionmaker of his business. ii. The senior-most family member of Joint Hindu Family Business.
i. Sole Trader ii. Karta iii. Co-parceners iv. Joint Stock company v. Partners
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i. A person who purchases shares of a Joint Stock Company. ii. The official signature of Joint Stock Company.
i. Shareholder ii. Common seal iii. Statutory company
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i. A Joint Stock company is a voluntary association of persons. ii. A Joint Stock company is a formal form of business organization.
i. True ii. True iii. True iv. False v. False
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i. Can the company ask Mr. John to pay any further money to the company? ii. Which feature of a Joint Stock company is referred to in this example?
i. No, Company cannot ask Mr. John for further payment, because, he has already paid the full amount of face value. ii. ‘Limited Liability is a feature, which is referred to in this...
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Distinguish between the following: Sole Trading Concern and Joint Hindu Family Business.
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The seniormost family member of Joint Hindu Family Firm.
1. Karta 2. Co-parceners
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How is a Joint Stock Company is different from Joint Hindu Family Business?
Joint Stock Company: It is an association of persons formed under the Companies Act, 2013 to run a business. Private Company minimum 2 members and maximum 200 members. Public Company minimum 7 members...
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